Quarterly report pursuant to Section 13 or 15(d)

Earnings and Net Income (Loss) per Common Share

v3.6.0.2
Earnings and Net Income (Loss) per Common Share
 9 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Earnings and Net Income (Loss) per Common Share
Net Income per Common Share
Basic net income per common share is computed by dividing net income available to Thermon Group Holdings, Inc. by the weighted average number of common shares outstanding during each period. Diluted net income per common share is computed by dividing net income available to Thermon Group Holdings, Inc. by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which includes options and both restricted and performance stock units, is computed using the treasury stock method.  With regard to the performance stock units, we assumed that the target number of shares would be issued within the calculation of diluted net income per common share.
The reconciliations of the denominators used to calculate basic and diluted net income per common share for the three and nine months ended December 31, 2016 and 2015, respectively, are as follows:
 
 Three Months Ended December 31, 2016
 
 Three Months Ended December 31, 2015
 
Nine Months Ended December 31, 2016
 
Nine Months Ended December 31, 2015
Basic net income per common share
 
 
 
 
 
 
 
Net income available to Thermon Group Holdings, Inc.
$
5,358

 
$
8,480

 
$
11,390

 
$
19,805

Weighted-average common shares outstanding
32,330,392

 
32,210,081

 
32,280,539

 
32,162,800

Basic net income per common share
$
0.17

 
$
0.26

 
$
0.35

 
$
0.62

 
 Three Months Ended December 31, 2016
 
 Three Months Ended December 31, 2015
 
Nine Months Ended December 31, 2016
 
Nine Months Ended December 31, 2015
Diluted net income per common share
 
 
 
 
 

 
 

Net income available to Thermon Group Holdings, Inc.
$
5,358

 
$
8,480

 
$
11,390

 
$
19,805

Weighted-average common shares outstanding
32,330,392

 
32,210,081

 
32,280,539

 
32,162,800

Common share equivalents:
 
 
 
 
 
 
 
Stock options
222,152

 
230,490

 
224,291

 
248,639

Restricted and performance stock units
99,386

 
156,176

 
114,455

 
164,318

Weighted average shares outstanding – dilutive (1)
32,651,930

 
32,596,747

 
32,619,285

 
32,575,757

Diluted net income per common share
$
0.16

 
$
0.26

 
$
0.35

 
$
0.61


(1) For the three and nine months ended December 31, 2016, 45,140 and 44,368 equity awards, respectively, were not included in the calculation of diluted net income per common share, as they would have had an anti-dilutive effect. For the three and nine months ended December 31, 2015, 69,224 and 48,232 equity awards were not included in the calculation of diluted net income per common share as they would have had an anti-dilutive effect.